Price Action To Observe: Myokardia Inc on Focus After Crashing In Today’s Session

Price Action To Observe: Myokardia Inc on Focus After Crashing In Today's Session

The stock of Myokardia Inc (NASDAQ:MYOK) is a huge mover today! The stock decreased 4.58% or $0.65 on November 8, hitting $13.55. About 162,716 shares traded hands. Myokardia Inc (NASDAQ:MYOK) has risen 21.78% since April 6, 2016 and is uptrending. It has outperformed by 19.83% the S&P500.
The move comes after 7 months negative chart setup for the $411.71M company. It was reported on Nov, 8 by Barchart.com. We have $12.06 PT which if reached, will make NASDAQ:MYOK worth $45.29 million less.

Analysts await Myokardia Inc (NASDAQ:MYOK) to report earnings on November, 16. They expect $-0.35 EPS, up 87.41% or $2.43 from last year’s $-2.78 per share. After $-0.37 actual EPS reported by Myokardia Inc for the previous quarter, Wall Street now forecasts -5.41% EPS growth.

Myokardia Inc (NASDAQ:MYOK) Ratings Coverage

Out of 5 analysts covering MyoKardia (NASDAQ:MYOK), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. MyoKardia has been the topic of 5 analyst reports since November 23, 2015 according to StockzIntelligence Inc. The rating was initiated by BMO Capital Markets on Wednesday, July 20 with “Outperform”. The firm has “Outperform” rating by Cowen & Co given on Monday, November 23. The rating was initiated by Wedbush on Monday, November 23 with “Outperform”. The stock of Myokardia Inc (NASDAQ:MYOK) has “Outperform” rating given on Monday, November 23 by Credit Suisse. As per Friday, December 4, the company rating was initiated by Wells Fargo.

According to Zacks Investment Research, “MyoKardia, Inc. is a biopharmaceutical company. The company focuses on discovering, developing, and commercializing therapies for the treatment of serious and neglected rare cardiovascular diseases. Its product candidate consists of MYK-461, a small molecule to reduce excessive cardiac muscle contractility leading to hypertrophic cardiomyopathy, DCM-1, treats heritable dilated cardiomyopathy by restoring normal contractility in the diseased DCM heart, HCM-2, a product candidate to reduce cardiac muscle contractility to normal levels in HCM patients and LUS-1, which is intended to counteract a muscle disruption that results in impaired relaxation of the heart, which are in different clinical trial. MyoKardia, Inc. is headquartered in San Francisco, California.”

More important recent Myokardia Inc (NASDAQ:MYOK) news were published by: Marketwatch.com which released: “MyoKardia initiated at outperform at Credit Suisse” on October 03, 2015, also Quotes.Wsj.com published article titled: “MyoKardia Inc. MYOK (US: Nasdaq)”, Businesswire.com published: “MyoKardia Announces Pricing of Initial Public Offering” on October 28, 2015. More interesting news about Myokardia Inc (NASDAQ:MYOK) was released by: Businesswire.com and their article: “MyoKardia, Inc. Completes $46 Million Series B Financing” with publication date: April 30, 2015.

MYOK Company Profile

MyoKardia, Inc., incorporated on June 8, 2012, is a clinical-stage biopharmaceutical company. The Firm focuses on the treatment of heritable cardiomyopathies, a group of rare, genetically-driven forms of heart failure that result from biomechanical defects in cardiac muscle contraction. The Firm is engaged in the business of developing and commercializing therapeutics. The Firm has used its precision medicine platform to generate an initial pipeline of over four therapeutic programs for the chronic treatment of approximately two forms of heritable cardiomyopathy-hypertrophic cardiomyopathy (HCM), and dilated cardiomyopathy (DCM). The Company’s lead product candidate, MYK-461, is an orally-administered small molecule designed to reduce excessive cardiac muscle contractility leading to HCM. In preclinical models of HCM, MYK-461 has been shown to prevent and reverse disease progression and to reduce left ventricular outflow tract obstruction. The Firm is evaluating MYK-461 in over three Phase I clinical trials, including approximately two single ascending dose (SAD) trials and over one multiple ascending dose (MAD) trial. In its first Phase I clinical trial, the Company has demonstrated proof of mechanism, or the ability of MYK-461 to reduce cardiac muscle contraction.

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